Democratic Senator criticizes FAA chief for failing to sell Republic Airways stock
AP News••business
Key Points:
- FAA head Bryan Bedford has not sold his multimillion-dollar shares in Republic Airways despite a promise to do so within 90 days of his confirmation, according to Senator Maria Cantwell.
- Bedford's Republic Airways stock is valued between $6 million and $30 million, and the stock price nearly doubled following Republic's recent merger with Mesa Air Group.
- Cantwell accused Bedford of violating his ethics agreement by retaining significant equity past the divestment deadline and demanded a full accounting.
- The FAA has been under scrutiny due to a fatal midair collision near Washington, D.C., technical issues at Newark Liberty International Airport, and a controller shortage that caused widespread flight disruptions during the government shutdown.
- Bedford has not yet commented publicly,
